Estee Lauder executive buys 6-year-old Palm Beach mansion, then tears it down
PALM BEACH, Fla. — It looks like one Palm Beach billionaire’s treasure is another Palm Beach billionaire’s trash.
A limited liability company related to Estee Lauder executive chairman William P. Lauder purchased the property at 1071 N. Ocean Blvd. at the end of last year, the Palm Beach Daily News reported.
Now, the three-story, 35,000+ square foot oceanfront mansion is being torn down – likely to make way for another, even bigger mansion.
The opulent estate, which was built in 2016, was razed Wednesday after a notice to begin demolition of the property was recently filed with the Palm Beach County Clerk’s Office.
According to the Palm Beach Daily News, the demolition is billed as the costliest dismantling in the city’s history.
Some residents angered by demolition told the Daily Beast that leveling is a “complete rubbish” and an eyesore after years of construction, renovations and now this.
The 6 year old mansion had been built with a home cinema, library, wine cellar, fitness center, hair salon and pub room.
Palm Beach County property records show it changed hands in 2019 before Reiwa Holdings LLC took control two years later.
Plans for the future of the property were not submitted to the city, leaving the future of the lot in limbo.
The Palm Beach Daily News reported that Lauder also owns a vacant parcel of land next to the property through another LLC.